New York, Aug. 22, 2019 (GLOBE NEWSWIRE) -- The rapid growth of the food and beverages industry, growing need for preservation ingredients, and heavy acid regulation requirements in varied products are key factors contributing to high CAGR of Organic Acids during forecast period.
According to the current analysis of Reports and Data, the global Organic Acids market was valued at USD 19.91 Billion in 2018 and is expected to reach USD 36.86 Billion by year 2026, at a CAGR of 8.0%. Organic acids have a wide scale of application in the industry. Synthetically produced organic acids are used as catalysts, surfactants and dyes popularly. Those that are produced by fermentation process of microorganisms are extensively used in various processes in the food and beverages industry. Organic acids market is expected to witness a favourable growth scenario in the Asia Pacific market as the region has an extensively increasing demand for food and beverages, which are an important application of organic acids.
The organic acids market is witnessing a comparative leniency in the regulatory and approval norms, which is pushing the market growth forward. These acids are finding increasing use in the pharmaceuticals and cosmetic industry, which is further pushing forward the market growth. The top companies in the organic acids market are mainly focusing on qualitative product improvements for efficient applicability in the related end-use segments.
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Further key findings from the report suggest
- The market for renewable organic acids is driven by stringent environmental regulations imposed on the conventional production methods. The former do not leave any toxic waste behind and organic acids are therefore being increasingly synthesized from renewable bio-based methods.
- By product, formic acid has important applications. It is highly acidic in nature, which helps in leather production processes, dyeing processes and textile finishing. The formic acid segment is expected to grow at a CAGR of 7.9% during the period of forecast.
- Citric acid is another popular organic acid that has very strong physio-chemical properties. It has important biomedical applications and also as a disinfectant against many viruses.
- Animal feed products are an important application of organic acids due to their positive effect on feed quality and animal performance. BASF SE offers Lupro-Mix, a blend of Propionic acid and formic acid, which is a popular animal feed product.
- Since organic acids provide antimicrobial protection, they are helpful in self-care commercial products. Their popularity arises mainly out of the fact that they are cost-effective and safe in comparison to most other alternatives that have been developed.
- Molasses are an important bio-based source for the production of organic acids. For example, organic acids from cane molasses have properties of the acids that are naturally occurring in cane juice. Aconitic acids and malic acids are the main categories derived.
- The organic acids market is expected to have the maximum growth and product penetration in the food and beverages industry during the forecast period. This is primarily due to their preservation and flavour addition applications.
- North America is an important region in the global organic acids market. Strong industrial set-ups in the region and the boom in the shale oil and gas sector is expected to fuel the demand for organic acids in the North American markets.
- Asia Pacific will be registering the highest CAGR as a market for organic acids. This is because of the presence of key market players like India and China, that have an extensively expanding food and pharmaceuticals industry. The regulatory norms are also lenient, which contributes to the ease of doing business.
To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/organic-acids-market
Segments covered in the report:
For the purpose of this study, Reports and Data have segmented the Organic Acids market on the basis of product type, source type, application, and region:
Product Type (Revenue, USD Million; 2016–2026)
- Formic Acid
- Citric Acid
- Lactic Acid
- Acetic Acid
- Gluconic Acid
- Itaconic Acid
- Others
- Propionic Acid
- Succinic Acid
- Pyruvic Acid
Source Type (Revenue, USD Million; 2016–2026)
- Biomass
- Molasses
- Starch
- Chemical Synthesis
- Agro-Industrial Residue
Application (Revenue, USD Million; 2016–2026)
- Food and Beverages Industry
- Animal Feed
- Chemical Industry
- Pharmaceuticals
- Personal Care
- Agriculture
- Others
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Regional Outlook (Revenue in USD Million; 2016–2026)
- North America
- U.S.
- Canada
- Europe
- Germany
- France
- UK
- Spain
- Italy
- Rest of the Europe
- Asia Pacific
- China
- India
- Japan
- Rest of Asia-Pacific
- Middle East & Africa
- Latin America
- Brazil
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